T2 governance

TheMarket Infrastructure Board (MIB) is responsible for the day-to-day operation of T2, as well as the ongoing projects to improve the TARGET Services. The advisory group for payments,AMI-Pay, is also consulted on issues relating to the provision and modification of the Eurosystem’s payment-related services.

T2 Contact Group

The MIB established the T2 Contact Group (T2-CG) following the system’s launch. The group consists of market representatives, central banks and providers of T2. Its objective is to provide the MIB with information and advice on planning, functional and technical specifications, user testing and change management activities.

National Stakeholder Groups

Each central bank participating in T2 is responsible for organising and holding regular meetings with its user community at national level. These National Stakeholder Group (NSG) meetings are the main fora for discussing envisaged changes in T2 with users. They also provide an opportunity to collect feedback from stakeholders and understand their requirements.

For more information about NSG meetings, please contact the respective national central bank directly.

T2 Non-Euro Currencies Steering Group (T2 NECSG)

The T2 NECSG is responsible for coordinating the views of non-euro area national central banks (NCBs) that have signed a T2 Currency Participation Agreement on the use of T2 Services. The T2 NECSG supports the Eurosystem by providing the common position of non-euro area NCBs participating in T2, as far as possible, on matters of relevance to the T2 decision-making process.

The T2 NECSG is composed of senior managers nominated by the respective Governors of the non-euro area NCBs. Senior ECB representatives and the T2 service provider (4CB) also participate in the group’s discussion.

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